Yesterday’s inflation printed at 3.7%, a second month of rising prices which was widely expected due to cuts in the global oil supply. The table below presents US Consumer Price Index, CPI, for August
We see the Transportation Services and Shelter sectors came in very hot, increasing 10.3% Year on Year (YoY) and 7.3% YoY respectively. Food printed only slightly higher than the overall CPI at 4.3% YoY. And encouragingly we see five other sectors printing below the headline CPI number. But what drove Transportation Services inflation so high? The table below presents this sector into its three components
Where we see the biggest contributor was a 19.1% YoY increase in motor vehicle insurance. While there are many theories explaining this jump